The Quarter story
The two most recent quarterly results, compared side-by-side.
Order book surges to multi-year highs while margins hold steady, though rising client concentration and lumpy revenue recognition warrant attention.
Order backlog surged from ₹518 Cr to ₹8,986 Cr from Q1 FY26 to Q1 FY27 — massive pipeline secures multi-quarter revenue visibility
Top 10 client concentration rose from 47% to 51% from Q1 FY26 to Q1 FY27 — growing dependency on a few accounts increases revenue risk
EBITDA margin expanded from 8.4% to 9.3% from Q1 FY26 to Q1 FY27 — consistent cost control drives stronger operational efficiency
Other expenses increased from ₹323 Cr to ₹364 Cr from Q1 FY26 to Q1 FY27 — persistent operational costs squeeze net margins
North America revenue share grew from 66% to 69% from Q1 FY26 to Q1 FY27 — dominant regional focus continues to anchor sales
Revenue normalized from ₹6,322 Cr to ₹1,719 Cr from Q4 FY26 to Q1 FY27 — lumpy project recognition creates earnings unpredictability
Technology industry share rose from 22% to 27% from Q1 FY26 to Q1 FY27 — digital infrastructure demand fuels steady segment growth
Exceptional charges worsened from -₹13 Cr to -₹19 Cr from Q1 FY26 to Q1 FY27 — recurring one-time costs drag down bottom-line results
Gross profit climbed from ₹428 Cr to ₹524 Cr from Q1 FY26 to Q1 FY27 — resilient pricing power maintains healthy top-line margins
APAC revenue share fell from 12% to 8% from Q1 FY26 to Q1 FY27 — regional demand softening reduces geographic diversification
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